Disclaimer

Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Wednesday 29 May 2013

Dow Industrials

If this low holds then we got either a triangle or ending diagonal building. In the latter, wave 5 is always longer than wave 3, which gives us a minimum of 15610 in my calcs. If it is a triangle, well then the 'd' wave (not marked) will hold at 15510 before coming back for the 'e' leg and then up. Given the very long term picture expanding diagonal has a top perimeter at 16000-16250 zone, I think the triangle is the most potent for a spike up. We shall see. My shorts are staying covered for now and I am not going to be premature if I can help it.
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